Tesla loan comparison spreadsheet - auto updates hourly

[Noodles]

Ah yes, if you're an established customer already that makes more sense. I could see them being a little confused if someone just calls up "demanding" for a loan product that they don't readily advertise

Exactly! First loan I got with them was a Prius Prime, paid it off within a year and traded it off for this car.
This model 3 is the second car loan I got with them. So now I am a returning customer.

But I still strong armed them went from 2.99 to 2.45 to 2.20.

 

[MedusaManiac]

I asked the same question and they replied with "SkyOne Federal Credit Union". SkyOne doesn't advertise those rates (claims they don't go that low OR that long of a term) so it sounds like you have to strong arm them a little or negotiate. If I were you I probably would just go with a different lender. Carolina Cooperative Federal Credit Union seems to be a good go to for new Tesla loans and they clearly advertise 2.49% for 84 months. That interest rate difference is only worth about $5/mo on a $40k loan...

Edit: Right from SkyOne's web site; "The lowest new vehicle rate offered will not be lower than 2.99% APR" and "Maximum term at new vehicle rate is 60 months for new and used vehicles"

I am going to sign with Carolina for the 2.49 for up to 84 month term. There’s a local credit union here in FL that claims they will rate match/beat. Might put that to the test. If they do it would be 2.29 for 84. As you say like $4/month but I’ll take it if they make the process painless...

 

[Noodles]

I am going to sign with Carolina for the 2.49 for up to 84 month term. There’s a local credit union here in FL that claims they will rate match/beat. Might put that to the test. If they do it would be 2.29 for 84. As you say like $4/month but I’ll take it if they make the process painless...

that means you are only end up paying $6 for Tesla Premium Connectivity service.

 

[d0nkn0tts]

I am going to sign with Carolina for the 2.49 for up to 84 month term. There’s a local credit union here in FL that claims they will rate match/beat. Might put that to the test. If they do it would be 2.29 for 84. As you say like $4/month but I’ll take it if they make the process painless...

I'm in FL as well. Would you mind sharing the credit union that claims they will rate match?

Thanks,
Dk

 

[MedusaManiac]

I'm in FL as well. Would you mind sharing the credit union that claims they will rate match?

Thanks,
Dk

Partners FCU. Said they will beat by 0.25%.

I just sent back the packet CC FCU sent me. Waiting for that to come through and then will formally submit the rate match to partners.

 

[sightman]

Is anyone seeing better then 2.49% via Tesla (US Bank)? Thats what I got, and all the credit unions I belong to are actually more than that for a 60 month term. Is it worth me asking Tesla for a better rate? I recall reading on here some people got a better rate just by asking.

 

[Blike]

I got 2.49% via Tesla (US Bank) but after emailing was able to get the rate down to 2.29% through Chase

 

[edb5s]

I got 2.49% via Tesla (US Bank) but after emailing was able to get the rate down to 2.29% through Chase

Nice, what term is that for? 60 months?

 

[daryll]

I agreed to 2.39%/72mon/Chase arranged via Tesla 8/3/2020

 

[Blike]

Nice, what term is that for? 60 months?

Mine was for 48 months

 

[stlclint]

I got 2.49% via Tesla (US Bank) but after emailing was able to get the rate down to 2.29% through Chase

I asked for a rate reduction today and was told that 2.49% is the floor. Womp womp.

 

[ShaolinJ]

My loan approval was for 2.34% via Chase yesterday, for 72 month loan

 

[UnderCharged]

Anybody receive good rates with navy fed? I'm looking at buying after battery day closer to end of the quarter. Just wondering if I should try tesla or stick with nfcu

 

[Clark_Kent]

Anybody receive good rates with navy fed? I'm looking at buying after battery day closer to end of the quarter. Just wondering if I should try tesla or stick with nfcu

I looked at NFCU. They’re relatively competitive but once you get past 72 months the rates jump quite a bit.

 

[UnderCharged]

I looked at NFCU. They’re relatively competitive but once you get past 72 months the rates jump quite a bit.

Thanks Clark, I've never had a loan longer then 72 months. Even that seems too long, but the cars are not getting cheaper so longer terms are needed. I just worry about having multiple pulls.

 

[imola.zhp]

Thanks Clark, I've never had a loan longer then 72 months. Even that seems too long, but the cars are not getting cheaper so longer terms are needed. I just worry about having multiple pulls.

These should be "soft" pulls or "inquiries" they should not affect your score like a "hard" pull. You are allowed to shop for a loan and shouldn't be punished for trying to get the best rate. 72 months is scary but Tesla's seem to hold their value very well which helps.

 

[Clark_Kent]

These should be "soft" pulls or "inquiries" they should not affect your score like a "hard" pull. You are allowed to shop for a loan and shouldn't be punished for trying to get the best rate. 72 months is scary but Tesla's seem to hold their value very well which helps.

I agree a 72 month term is on the longer end of what most folks are comfortable with, but to your point the risk may be mitigated due to excellent Tesla resale value. I’m actually impressed with the data I’ve seen on Tesla resale.

 

[rydenfan]

you can always pay it off faster...but right now flexibility of low payments at a good interest rate is going to make people more comfortable with a big purchase

 

[SharkNC]

48 month 1.99% Charlotte Metro Credit Union. Tesla told me they no longer rate match.

 

[electricak]

Hi Guys! I am offered 2.49% through Wells Fargo. I emailed asking for lower rate and they said 2.49 is the floor rate. I am seeing lower rate at CU. My understanding is unless I agree on the loan details, I wont be inline for VIN assignment. What are other people doing? Do I apply at CU and then let Tesla know that I have arranged alternate financing?